黄金早参丨金价显著抬升，经济数据上修降低降息预期，长期向上逻辑不改

Core Insights - Gold prices significantly increased due to the Federal Reserve's interest rate cut, rising risk aversion, and continuous capital inflow, with COMEX gold futures up 2.27% to $3789.8 per ounce, reaching a new historical high [1] - Economic data revisions have lowered expectations for further interest rate cuts, with Q2 personal consumption expenditures revised to a 2.5% quarterly rate, above the expected 1.7% and previous 1.6% [1] - The Q2 annualized GDP growth rate was revised to 3.8%, exceeding both the expected and previous rates of 3.3% [1] Economic Data Impact - The market's perception of the necessity for further interest rate cuts by the Federal Reserve has decreased, with the probability of maintaining rates in October rising from 10% to 15% [1] - The September S&P Manufacturing PMI recorded at 50.2, remaining above the expansion-contraction threshold [1] Market Analysis - Long-term support for gold prices is attributed to global monetary debt, credit issues, and geopolitical factors, while short-term trading requires caution due to volatility [1] - The potential for upward momentum in gold prices remains, but short-term fluctuations may slow down, especially with upcoming non-farm payroll data expected to impact macroeconomic trends [1]